HC Wainwright Trims Largo (NYSE:LGO) Target Price to $4.60

Largo (NYSE:LGO) had its price objective reduced by HC Wainwright from $9.00 to $4.60 in a research note published on Monday morning, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Largo’s FY2024 earnings at ($0.06) EPS.

Largo Price Performance

Largo stock opened at $1.65 on Monday. The stock has a market cap of $105.68 million, a P/E ratio of -3.24 and a beta of 1.76. The company has a fifty day simple moving average of $1.87 and a 200-day simple moving average of $2.25. Largo has a 12-month low of $1.50 and a 12-month high of $5.44. The company has a current ratio of 3.23, a quick ratio of 1.62 and a debt-to-equity ratio of 0.30.

Institutional Investors Weigh In On Largo

Institutional investors have recently modified their holdings of the company. UBS Group AG lifted its position in shares of Largo by 4,549.3% during the 3rd quarter. UBS Group AG now owns 6,602 shares of the company’s stock worth $35,000 after purchasing an additional 6,460 shares during the last quarter. Toronto Dominion Bank purchased a new stake in shares of Largo during the 3rd quarter worth $36,000. Sprott Inc. purchased a new stake in Largo in the third quarter valued at $59,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Largo in the third quarter valued at $99,000. Finally, Bridgewater Associates LP purchased a new stake in Largo in the first quarter valued at $131,000. 64.08% of the stock is owned by hedge funds and other institutional investors.

Largo Company Profile

Largo Inc engages in the development and sale of vanadium-based energy storage systems in Canada. The company operates through, Sales & Trading, Mine Properties, Corporate, Exploration and Evaluation Properties, and Largo Clean Energy and Largo Physical Vanadium Segments. Its products include VPURE+ vanadium flakes that are used in the production of master alloys and aerospace applications; VPURE vanadium flakes ferrovanadium and vanadium carbon nitride for the steel industry; and VPURE+ vanadium powder for catalyst applications.